The Disciplinary Committee of Nasdaq Stockholm (the “Exchange”) has found that Intellego Technologies AB (the “Company”) has breached the rules of Nasdaq First North Growth Market (the “Rulebook”) and therefore decided that the shares in the Company shall be delisted from Nasdaq First North Growth Market.
The Disciplinary Committee notes that it is undisputed that the Company’s disclosures regarding its revenues and results for the period January–September 2025 have been gravely inaccurate and misleading. According to KPMG’s reports, nearly 99 percent of the revenue reported should not have been recognized as revenue. During 2025, the Company also published a series of press releases containing information that was directly untrue and, in several cases, knowingly misleading. The public has not been able to rely on the Company’s disclosures, and the Company has acknowledged that its conduct was in breach of the Rulebook.
Other breaches of the Rulebook cited by the Exchange must, according to the Disciplinary Committee, be regarded as absorbed by the long standing and systematic violations that form the core of this matter. The Company’s actions were of a nature that could seriously damage public confidence in the securities market. No sanction other than delisting can be considered for the Company’s extremely serious violations. Intellego Technology AB’s shares shall therefore be removed from trading on Nasdaq First North Growth Market.
The Disciplinary Committee’s decision is available at: https://www.nasdaq.com/market-regulation/nordic/stockholm/disciplinary/decisions-sanctions
For further information about this exchange notice please contact Enforcement & Investigations, telephone +46 8 405 70 50, or eis@nasdaq.com.